Is Now a Good Time to Buy a House?

"There is no single right answer for everyone. The latest national data shows buyers have more homes to choose from than a year ago, but mortgage rates are higher: the 30-year fixed averaged 7.03% in Freddie Mac's survey as of Sept. 24, 2026, up from 6.30% a year earlier. Whether now is a good time for you depends on your budget, your savings, and how long you plan to stay.

This guide does not tell you to buy or to wait. It lays out the latest numbers from the primary sources so you can weigh them yourself.

What does the latest housing data say?

Here is the national picture from the most recent releases.

Existing homes (homes that have been lived in before). In its August 2026 report, released Sept. 10, 2026, the National Association of Realtors (NAR) said existing-home sales fell 2.0% from July and 1.2% from a year earlier, to a seasonally adjusted annual rate of 3.98 million.

NAR said there was a 4.9-month supply of homes for sale in August, up from 4.6 months in July and 4.6 months in August 2025. NAR Chief Economist Lawrence Yun called that ""its highest level in over ten years"" and said ""the ample supply of homes for sale on the market is giving homebuyers better opportunities to negotiate.""

Prices were still rising. NAR reported a national median existing-home price of $429,100 in August 2026, up 1.6% from a year earlier. NAR said that was the 38th month in a row of year-over-year price increases.

New homes. The Census Bureau and HUD reported on Sept. 24, 2026 that new single-family home sales ran at a seasonally adjusted annual rate of 684,000 in August 2026. There was an 8.5-month supply of new homes for sale at that sales pace, which Census called virtually unchanged from August 2025.

The median price of new homes sold in August 2026 was $393,700, according to the same release. It was 5.8% below August 2025, but the Census Bureau's release tables show that change is not statistically significant. In plain words: Census cannot say for sure that new-home prices actually fell.

Home building. The Census Bureau's construction report for August 2026, released Sept. 17, 2026, showed single-family housing starts at a seasonally adjusted annual rate of 918,000. Census said the change from July was not statistically significant.

NAR and the Census Bureau measure supply in different ways, so treat these as two separate signals, not one number.

How do today's mortgage rates change the math?

Rates are the part of the picture that got harder. Freddie Mac's weekly survey put the 30-year fixed at 7.03% as of Sept. 24, 2026. A year earlier it was 6.30%.

EXAMPLE ONLY: $400,000 loan, 30-year fixed. Principal and interest only. Taxes, insurance and mortgage insurance are not included.

On this example loan, today's average rate costs about $193 more a month than a year ago. Nobody can promise where rates go next, in either direction. The honest question is whether today's payment works for you.

Reasons buying now can make sense for some buyers

• More homes to pick from. NAR's August 2026 data shows the most months of supply for existing homes in over ten years, and its chief economist said that gives buyers better room to negotiate.

• New homes have plenty of supply too. Census put new-home supply at 8.5 months in August 2026.

• Your life may not wait. A growing family, a new job or a lease ending can matter more than market timing.

• You can afford the payment today. If the payment at today's rate fits your budget with room to spare, a future rate drop becomes a bonus, not a requirement.

Reasons waiting can make sense for some buyers

• Your payment would be tight. At 7.03%, the example payment above is about $193 a month higher than it would have been a year ago. If that stretches you, waiting and saving more can be the safer move.

• Your savings are thin. A down payment is only one cost. Closing costs, moving and furnishing a new home all add up. An emergency fund matters too.

• You may move again soon. Buying and selling both cost money, so a short stay can make buying harder to justify.

• Existing-home prices are still rising. NAR reported a 1.6% year-over-year rise in August 2026. Waiting does not guarantee a lower price.

How can you tell if you are ready to buy?

Instead of asking whether the market is ready, ask whether you are. These questions help:

1. Can I afford the full monthly payment today, including taxes and insurance, without counting on rates falling later?

2. Do I have cash for the down payment, closing costs and an emergency fund?

3. Do I plan to stay put for several years?

4. Is my job and income steady?

5. Have I compared loan offers? The CFPB says all lenders must use the same standard Loan Estimate form, which makes it easier to compare offers side by side. A lender must give you one within three business days of receiving your application.

If you can answer yes to most of these, the market data above is just one input. If not, the smartest next step may be getting ready, whatever the market does.

What this means for new-construction buyers

New homes are their own part of the market, so look at them on their own terms.

• Supply looks different. Census put new-home supply at 8.5 months in August 2026, a separate measure from NAR's 4.9 months for existing homes.

• Builder offers change. Some builders offer to help with closing costs or the interest rate. These offers change often and differ by builder and community, so call 561-704-0091 for today's numbers.

• Temporary rate help has a catch. A temporary buydown lowers your payment for a year or two, then the full payment starts. Our 2-1 buydown guide shows the math.

• Timing is part of the deal. A home that is not finished yet may close months from now. Ask the builder for an estimated completion date and ask your lender how your rate will be handled until closing.

• Compare the full cost, not just the price. Price, rate help, closing costs and the monthly payment all matter. Ask for each option in writing.

National House Search is builder-neutral. We can line up new homes from different builders side by side, so you can see which one fits your budget today.

Common Questions

Ready to take the next step?

Call 561-704-0091 to talk with a National House Search specialist, or Schedule a visit.

Related reading: Buying a new-construction townhome for the first time · Condo vs. townhouse vs. single-family home · What is a 2-1 buydown and is it worth it?

This is general information, not financial, tax or legal advice. Figures checked September 27, 2026."